The Boomer’s Ultimate Estate Documents Checklist

6/27/2017

Estate planning may not be something you worry about often — more likely, you’re thinking about how to fund and enjoy your hard-earned retirement! However, the fact is, if you have any sort of property, you have an estate, and you need to have a plan for it when you’re gone. Before you meet with your Farm Bureau agent to discuss your future, here are some things you need to have ready.

Essential Documents

A Will/Trust: A will is a document that directs who will receive your property upon your death, and appoints a legal representative to carry out your wishes. A trust is a legal arrangement in which one person (“trustee”) holds legal title to property for another person (“beneficiary”).

Power of Attorney: Give another person the authority to act for you in specified legal or financial matters.

Beneficiary Designations: A beneficiary is a person or legal entity that will receive the proceeds from a will or trust. Designating a beneficiary means you have chosen the person or persons who will receive these proceeds.

Letter of Intent: A document that outlines important information that may need to be shared upon your death. This can mean everything from passwords to the music you wish to have at your funeral. Note that this document is not legally binding.

Healthcare Power of Attorney: Designates a person to make decisions on your behalf on health care matters. This can be separate from power of attorney, so one person can handle medical matters, while another handles financial ones.

Guardianship Designations: Lets you choose a person or persons to act as a guardian to your minor child(ren).

Agent must be a registered representative of FBL Marketing Services, LLC to discuss mutual funds or college funding options.

Health insurance policies vary by carrier & individual and may not be offered through all agents or available in all states. Health insurance is underwritten by a variety of insurance companies not affiliated with our companies.

Long-Term Care and Disability Income insurance policies are underwritten by a variety of insurance companies that are not affiliated with our companies.

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